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Newspaper
Lawrence Journal World
Location
Lawrence, Kansas, United States of America
Date
Feb 17, 1998
Page
6
One LS Markets closed U.S. financial and commodities markets, government offices and banks were closed Monday in observance of the Presidents Day holiday. They were to reopen today on a normal weekday schedule.
Asian shares fell across the region on fears that a dispute between Indonesia and the IMF could derail a 43 billion dollar bailout. Japan barely changed, Europe rose, while the IMF warns Indonesia’s rupiah peg plan could cripple recovery and threaten the IMF led package.
The Nashville Banner will end 122 years of operation with the final issue on Friday. Publisher Irby C. Simpkins Jr. notes current circulation at 39,838, down from 63,000 a decade ago, with projections to 25,000 by 2000. Nashville’s daily morning paper The Tennessean, owned by Gannett, remains.
General Motors will shift about 380 jobs from its Delphi Energy and Engine Management System plant in Muncie Indiana to factories in Olathe Kansas and Fitzgerald Georgia. GM expects most production transfers to be completed by mid year.
Agriculture Department opens hearings on a petition by Dairy Farmers of America to set a $13.50 per hundred pounds price floor for drinking milk and related products. The DFA cooperative represents about 22,000 producers. critics say the move could slow dairy farmer insolvencies but raise costs for consumers.
Standard Beverage Corp the state's largest liquor distributor seeks a 90 000 square foot addition to its 127 800 square foot Lawrence warehouse at 2300 Lakeview Rd boosting site area to about five acres The expansion scheduled to open by Aug 1 would double bulk storage and support growth while no new jobs are created The Lawrence City Commission would approve the site plan at 6 35 pm at city hall and Standard has operated in Lawrence since 1989
ARMs offer lower initial rates and flexibility for higher earners, transients, and retirees. The 30-year fixed averaged 6.77 percent while the one-year ARM was 5.31 percent, with 5/1 and 7/1 ARMs locking initial rates for five or seven years. Savvy buyers use ARMs to build equity faster or bridge to retirement, though fixed-rate loans remain cheaper for most.
Dodge City and St Joseph reports show light demand and quiet trade with 11 600 head sold including 10 400 previously contracted cattle. Prices range from 57 to 66 dollars for slaughter steers and heifers, with cows and bulls mixed gains and hogs trading higher at Omaha with steady to bargain baselines.
A production error left a graphic missing in Monday's business page story about gay travelers. The reproduced image now accompanies the text to illustrate the feature.
Oread Inc of Lawrence expands its contract pharmaceutical services by purchasing Proceutics Inc of Norcross Georgia. Proceutics adds 50 scientists and a 25000 square foot lab. Oread will lease Proceutics real estate while taking on personnel equipment and contracts. A second unnamed private company in New Jersey is expected to be announced later this week.
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